Safaricom has announced a historic financial milestone, driven by the stellar performance of its mobile money platform, M-PESA. In the financial year ending March 31, 2025, the telco posted a record revenue of Sh388.7 billion, marking an 11.2% year-on-year growth. M-PESA alone contributed Sh161 billion to this figure, accounting for 44.2% of service revenue in Kenya.
The mobile money platform’s impressive 15.2% year-on-year growth has underscored its role as a core pillar in Safaricom’s financial success. M-PESA’s contribution goes beyond revenue—it’s redefining financial services in Kenya and expanding its footprint across borders, particularly in Ethiopia. In its first year of operations there, M-PESA saw 2.8 million customers transact over Sh20.6 billion.
Safaricom’s CEO, Peter Ndegwa, highlighted M-PESA’s evolution beyond basic payments into areas like credit and wealth management as key to unlocking new avenues for growth. “M-PESA’s strong performance reflects its critical role in our strategy to digitize financial services and empower communities across Kenya and Ethiopia,” he said.
Now in its 18th year since launching in 2007, M-PESA has grown from 19,000 users in its first month to over 34 million users in Kenya alone. This growth has been pivotal in helping Safaricom exceed the $3 billion (Sh388 billion) revenue mark—a first for the region.
The company also reported a 29.5% rise in earnings before interest and taxes to Sh104.1 billion, with operations in Ethiopia contributing nearly 10% to group revenue. Net income rose 10.8% to Sh69.8 billion, prompting a total dividend payout of Sh48.08 billion, including a final dividend of 65 cents per share.
Connectivity revenues accounted for 50.8% of service revenue, with mobile data up 15.2% to Sh72.9 billion. Voice revenue, defying global trends, grew 1.6% to Sh80.8 billion.
As Safaricom aims to become Africa’s leading purpose-led tech company by 2030, M-PESA remains central to its growth, innovation, and regional expansion strategy.
